Ingredient A12H Is a Raw Material Used to Make Calvin

question 47

Multiple Choice

Ingredient A12H is a raw material used to make Calvin Corporation's major product.The standard cost of Ingredient A12H is $23.00 per ounce and the standard quantity is 3.8 ounces per unit of output.Data concerning the compound for October appear below:
$$\begin{array} { | l | r | } \hline \text { Cost of material purchased in October, per ounce } & \$ 23.10 \\\hline \text { Material purchased in October, ounces } & 2,300 \\\hline \text { Material used in production in October, ounces } & 2,120 \\\hline \text { Actual output in October, units } & 600 \\\hline\end{array}$$ The raw material was purchased on account.The Materials Price Variance for October would be recorded as a:

• A) debit of $230.
• B) credit of $212.
• C) debit of $212.
• D) credit of $230.

---

Definitions:

Loan Denial

The refusal by a financial institution to grant a loan based on various factors including the applicant's credit history, income, or discrimination.

Environmental Racism

Environmental Racism refers to the disproportionate impact of environmental hazards on marginalized racial minority communities due to discriminatory policies or neglect.

Native American Reservations

Designated areas of land managed by Native American tribes under the United States Department of the Interior's Bureau of Indian Affairs.

Dump Sites

Locations designated for the disposal of waste materials, often associated with environmental concerns.